ALD equipment market stood at US$875.0 mn in 2015. Exhibiting a CAGR of 29.4% between 2016 and 2024, the market is poised to reach US$8.58 bn by the end of 2024.
Albany, NY -- (SBWIRE) -- 12/07/2016 -- The global atomic layer deposition (ALD) market has reported strong growth in the last few years. Transparency Market Research (TMR) forecasts that the market will continue to exhibiting steady growth between 2016 and 2024 as the use of the ALD technology increases in the production of smartphones, DVD players, printers, and other electronics. A few of the key applications of atomic layer deposition include industrial, biomedical, video games, portable media players, microelectronics, and quality control.
The global ALD equipment market stood at US$875.0 mn in 2015. Exhibiting a CAGR of 29.4% between 2016 and 2024, the market is poised to reach US$8.58 bn by the end of 2024.
Industrial Expansion to Create New Opportunities for ALD Equipment in Asia Pacific
From the geographic standpoint, North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa constitute the most lucrative markets for ALD equipment. Among these, Asia Pacific has emerged as the leading regional market due to the increasing application of ALD across core industries. The region held approximately 57.2% of the global ALD equipment market in 2015 in terms of revenue.
As per TMR, the rapid expansion of the automotive, electronics, and semiconductor industries will stimulate demand for ALD equipment in Asia Pacific. The regional market is also likely to gain from the rising demand from medical centers. According to TMR, the Asia Pacific ALD market, which stood at US$500.5 mn in 2015, is expected to reach US$5.1 bn by the end of 2024. The market is expected to exhibit a CAGR of 29.9% during the forecast period. The increasing use of ALD equipment across industrial set ups is also expected to boost its sales in North America.
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Applications in Nanotechnology to Boost Opportunities for ALD Equipment Market
In the last few years, the use of atomic layer deposition has significantly increased in nanotechnology. The recent technological advancements in the ALD technology in terms of scalability, performance, and reliability have made this possible. With the advent of more advanced technologies, the usage of ALD equipment as manipulation and fabrication tools in nanotechnology is expected to accelerate. Furthermore, the sales of ALD equipment are poised to surge due to the rising demand for less time consuming and effective semiconductor equipment manufacturing process.
However, the process of ALD is very time consuming, which indirectly acts as a growth suppressant for the ALD equipment sales. The stringent export control regulations are also expected to create bottlenecks for the market. Besides this, the high initial investment required for ALD equipment and the lack of skilled workforce also inhibit the growth in ALD equipment sales to an extent.
Nevertheless, the increasing applications of ALD in semiconductor and electronics and energy devices is expected to keep the demand for ALD equipment high in the forthcoming years. The increasing research and development on atomic layer deposition technologies is projected to boost opportunities for the ALD equipment market. The market is also expected to significantly gain from the increasing application of atomic layer deposition in power devices and energy storage devices.
Rising Use in Semiconductor and Electronics Industry to Fuel Demand for ALD Equipment
Based on application, research and development facilities and semiconductor and electronics constitute the two key segments in the global ALD equipment market. With a share of 87.4%, the semiconductor and electronics segment exhibited the highest demand for ALD equipment in 2015. Due to recent technological advancements, the application of ALD equipment across medical, industrial, and automotive sectors has significantly increased. This, in turn, has fuelled demand for ALD equipment from the semiconductor and electronics segment.
Some of the key players in the ALD equipment market are ASM International N.V. (The Netherlands), Entegris, Inc. (The U.S.), Aixtron SE (Germany), CVD Equipment Corporation (U.S.), Picosun Oy (Finland), Arradiance, Inc. (The U.S.), Beneq Oy (Finland), ALD Nanosolutions, Inc. (The U.S.), Veeco Instruments, Inc. (The U.S.), Oxford Instruments Plc (U.K.), SENTECH Instruments GmbH (Germany), Applied Materials, Inc. (The U.S.), Encapsulix (France), Kurt J. Lesker Company (The U.S.), and Ultratech Inc. (The U.S) .